The company, which is developing microwearable technology, is in the final stages of a capital raising through Venture Crowd. It has raised $1 million so far at $1.75 a share and has a maximum goal of $2 million.

It has previously raised $32 million in equity and grants and is in clinical trials through QUT for a sensor which monitors hydration.

Webber said the technology would have applications in elite sport and admits that his competitive nature could prove frustrating for WearOptimo.

“I always want things to be faster,” he said.

But he said it would be jolting the company in a positive way.

The company already has key investors including the Australian National University, Aspen Medical.

Founder Professor Mark Kendall said Webber would be able to provide an insight into the demands of elite athletes.

“It’s that knowledge that is so powerful,” he said.

The company described Webber’s involvement as an investor and strategic partner.

The capital raising ends tomorrow (Friday).